|
| | |
Insured mortgage
Insured mortgage A mortgage insured against loss to the mortgagee (lender) in the event of default and failure of the mortgaged property to satisfy the balance owing plus cost of foreclosure.
RELATED TERMS--------------------------------------
Mortgage
A legal document pledging property as security for the payment of a loan.
Mortgagee
The lender in a mortgage agreement.
Default
The inability to pay monthly mortgage payments in a timely manner or to otherwise meet the mortgage terms.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Balance
The appraisal principle that states that the greatest value in a property will occur when the type and size of the improvements are proportional to each other as well as the land.
Foreclosure
A legal process in which mortgaged property is sold to pay the loan of the defaulting borrower.
SIMILAR TERMS--------------------------------------
Insulation
Materials including cellulose, glass fiber, rock wool, polystyrene, urethane foam and vermiculite that slow heat loss.
Insurable title
Title that a title insurance company is willing to insure.
Insurance
Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.
Insurance binder
A written statement that warrants that an insurance policy will be issued on a property when title is transferred.
Insurance companies
Insurance companies accumulate large sums of money from the premiums paid by their policyholders.
Insurance company separate account
A real estate investment vehicle that may only be offered by life insurance companies. This ownership arrangement enables an ERISA-governed fund to avoid the creation of unrelated taxable income for certain types of property investments and investment structures.
PREVIOUS AND NEXT TERMS--------------------------------------
Insurable title
Title that a title insurance company is willing to insure.
Insurance
Protection against a specific loss over a period of time that is secured by the payment of a regularly scheduled premium.
Insurance binder
A written statement that warrants that an insurance policy will be issued on a property when title is transferred.
Insurance companies
Insurance companies accumulate large sums of money from the premiums paid by their policyholders.
Insurance company separate account
A real estate investment vehicle that may only be offered by life insurance companies. This ownership arrangement enables an ERISA-governed fund to avoid the creation of unrelated taxable income for certain types of property investments and investment structures.
Insured mortgage
Interest
Money paid to a lender as compensation for money that is borrowed.
Interest accrual rate
Percentage a borrower pays for the use of money, usually expressed as an annual percentage.
Interest deduction
Interest expense on a home loan that governments allows homeowners to subtract from their income before computing their income tax.
Interest factor
In a table, numbers derived from formulas used to determine the present or future value of money.
Interest Payment Notification (1098)
A federal tax form that lenders use at year end to notify borrowers of the interest that was paid on their mortgage over the last year.
This dictionary contains 6433 terms. |
|
|
